I am with jillybagger and Pottermore and other posters that Iain's appointment as CEO of PCL is a very good thing for PCL going forward.
NWE is history. Shareholders of NWE forget that Iain was handed the poisoned chalice as MD, as the elephant skulking in the corner was Minres/Ellison with 19% shareholding. Iain did well to manage that 'my way or the highway' major shareholder and the net result was a win for NWE shareholders. They do realise that after the drilling at Lockyer and North Erregulla, if NWE was still listed, it would be trading at 2-3 cents!! Just check out the recent development 'challenges' that Strike is having at South Erregulla and the markets reaction!
Looking forward as we all must do, my view is that PCL does have a major shareholder, Mr. Kennedy, who is getting on in years and that I would surmise he is looking for exploration success and a takeout at higher price with a discovery that will benefit all shareholders. No plans to build an empire here, methinks.
Barry Rushworth has done a great job husbanding PCL's resources and acquiring PEL 87 and getting Woodside to farmin to PEL 87, shoot a major 3D program, get a free carry through the first well and the broker support of Euroz Hartleys in a very challenging market for any junior oil explorer over the last 10 years.
In the event of a major discovery in PEL 87, when get around to drilling (4Q 2024-1Q 2025?), and if a take out of PCL takes place if exploration success eventuates, shareholders will be able to stand back and look at the PCL success as 'a 25 year overnight success!'.
Of course, lets not put the cart before the horse. Need to make the discovery first!
Signs are positive, as they always are before the drilling of any wildcat exploration well takes place and the 'rotary lie detector' reveals all.
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